National Debt

From CNSNews.com: When Rep. Nancy Pelosi (D-Calif.) gave her inaugural address as speaker of the House in 2007, she vowed there would be “no new deficit spending.” Since that day, the national debt has increased by $5 trillion, according to the U.S. Treasury Department. “After years of historic deficits, this 110th Congress will commit itself to […]

From CNSNews.com: It’s official: The Obama administration has now borrowed $3 trillion, according to the U.S. Treasury Department. It took from 1776, when the United States became an independent country, until 1990, the year after the Berlin Wall fell signaling victory in the Cold War, for the federal government to accumulate a total of $3 […]

From CBS News: The latest calculation of the National Debt as posted by the Treasury Department has – at least numerically – exceeded the statutory Debt Limit approved by Congress last February as part of the Recovery Act stimulus bill. The ceiling was set at $12.104 trillion dollars. The latest posting by Treasury shows the […]